Alchemy Distillers buys non-alc brand Banks Botanicals
Australian alcohol-free brand Banks Botanicals has been purchased by spirits producer Alchemy Distillers for an undisclosed sum.
Produced in the Yarra Valley, Banks Botanicals was founded in 2021 by Frank de Palma, Brian Cohen, and Yolanda Uys.
The Healesville-based alcohol-free ‘spirits’ producer said the acquisition would help it to expand globally and accelerate innovation.
“When we started Banks in 2021, a profound cultural shift was underway, the world was redefining what it means to drink, celebrate and connect,” said Cohen. “We believed Australians deserved a non-alcoholic option that doesn’t compromise taste and quality. What’s evolved since has exceeded every expectation.
“From our Yarra Valley distillery to shelves around the world, Banks has grown into a brand with momentum and achieved global relevance. The sale marks a new chapter, one that allows Banks to accelerate into markets we always knew it could win. We’re immensely proud of what we built and energised by what comes next.”
Alchemy Distillers was founded in 2016 by Evan Kipping and Jannick Zester. The company produces gin, vodka and whisky at its distillery in Healesville, which was converted from a wood-fired bakery.
Production of Banks Botanicals will remain in the Yarra Valley. The company has not yet confirmed if production will shift to the Alchemy Distillers site.
Banks Botanicals is made with five ingredients: lime, lemon myrtle, wattleseed, cassia and pepperberry. The brand has also moved into the ready-to-drink category with its alcohol-free Banks Yuzu, Basil and Lemon offering.
Banks Botanicals is available to buy in more than 200 Dan Murphy’s stores, in Liquor Warehouse outlets and through wholesaler Australian Liquor Marketers (ALM).
It is also available in Qantas International first-class lounges, Hyatt Hotels and the W Hotel, as well as in the on-trade through Paramount Liquor, Mulberry Group, ALH Group, Australian Venue Company, and the Big Group.
The brand is exported to Singapore, Malaysia, Hong Kong, Fiji and the Middle East.
Uys added: “Insight, creativity and thoughtful innovation guided every decision we made. With the support of incredible partners, the brand grew faster than we could have imagined. This sale is a proud milestone and a validation of that approach.”
The Spirits Business has approached Alchemy Distillers for comment.
In other acquisition news in the sector, Scottish soft drinks firm AG Barr fully purchased alcohol-free ‘spirits’ brand Strykk this summer.
In 2022, Australian producer Four Pillars entered the non-alcoholic ‘spirits’ sector with the release of zero-ABV versions of its Rare Dry Gin and Bloody Shiraz Gin.
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